MerryMart Consumer Corp. reports Revenues +55.9% to ₱2.875 Billion for the six months ending June 30, 2022 vs. the same period last year. EBITDA +62.5% to ₱99.448 Million for the six months ending June 30, 2022 vs. the same period last year. Net Income +96.5% to ₱32.247 Million for the six months ending June 30, 2022 vs. the same period last year.
Total Assets of the Company +11.2% to ₱7.222 Billion as of June 30, 2022 vs. December 31, 2021. Total Equity +7.9% year-on-year to ₱2.114 Billion as of June 30, 2022 vs. December 31, 2021. The MerryMart Group’s financial performance in the first half of 2022 was boosted by the consolidation of the recent pharmacy chain acquisitions of Carlos SuperDrug and Cecile’s Pharmacy.
The MerryMart Group continue to keep its eyes open for similar accretive partnerships and acquisitions within both the traditional and technology consumer sectors. “MerryMart Consumer Corp. is well on its way to exceed the ₱5 Billion revenue mark this year, more than double the Company’s revenue numbers two years ago when it filed for IPO.
The next immediate goal for MM Group is to further double that to reach our next milestone target of reaching the ₱12 Billion revenue mark, said MerryMart Chairman Edgar “Injap” Sia II. “The MM Wholesale App will soon be officially launched, customers can now start shopping by downloading the free MM Wholesale APP in iOS or Android. MM Wholesale offers next day delivery within NCR+ (Metro Manila, Bulacan, Rizal, Laguna and Cavite), free delivery for purchases P10,000 and up. You can also earn points that are good as cash back on your next purchase. One main feature of the App is its live inventory ability. Whatever you see in the App is physically in our warehouse which means 99% of the time you will receive exactly what you ordered. In addition, the App features over 5,000 household essential SKUs priced at up to 15% lower than retail prices.
MerryMart is very excited to see this part of its business to grow exponentially in the nearterm,” said MerryMart CFO Hannah Yulo-Luccini. The MM Wholesale ECommerce platform supported by its modern distribution centers are expected to eventually be available in all the 82 provinces of the Philippines. These distribution centers will mainly be located in CentralHub warehouse complexes nationwide. This direction aims to cover 99% of the Philippine consumer market.
MerryMart Group’s various formats are MerryMart Store, MerryMart Market, MerryMart Grocery, MerryMart Delivery and MerryMart Wholesale. MerryMart has recently formed a new subsidiary MM Consumer Technologies Corp with MBOX Smart Lockers as the first in its consumer technology portfolio that is expected to add and complement to the ecosystem of the MerryMart Group. MerryMart has set its Vision 2030 with the goal of a total of 1,200 branches nationwide aims to generate Php 120 Billion in systemwide recurring consumer sales revenue.
Read More: Press Release Philippines